New York Community Bancorp, Inc. (NYSE:NYCB)‘s stock had its “sell” rating reissued by stock analysts at Piper Jaffray Companies in a research note issued to investors on Tuesday. They presently have a $11.00 price objective on the financial services provider’s stock. Piper Jaffray Companies’ price target suggests a potential downside of 10.79% from the stock’s previous close.

NYCB has been the subject of several other research reports. BidaskClub raised New York Community Bancorp from a “strong sell” rating to a “sell” rating in a report on Tuesday, June 13th. Morgan Stanley reissued an “equal weight” rating and issued a $13.75 price objective (down previously from $14.00) on shares of New York Community Bancorp in a report on Friday, July 7th. Zacks Investment Research raised New York Community Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, ValuEngine lowered New York Community Bancorp from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Three research analysts have rated the stock with a sell rating and ten have given a hold rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $13.61.

Shares of New York Community Bancorp (NYCB) traded up 0.08% during trading on Tuesday, reaching $12.33. 3,137,132 shares of the company were exchanged. The company has a market capitalization of $6.03 billion, a PE ratio of 13.42 and a beta of 0.59. The firm’s 50 day moving average price is $12.28 and its 200 day moving average price is $13.13. New York Community Bancorp has a one year low of $11.67 and a one year high of $17.68.

New York Community Bancorp (NYSE:NYCB) last announced its earnings results on Wednesday, July 26th. The financial services provider reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.03. New York Community Bancorp had a return on equity of 7.46% and a net margin of 25.67%. The firm had revenue of $338.21 million during the quarter, compared to analyst estimates of $326.36 million. During the same period last year, the firm posted $0.26 EPS. Equities research analysts forecast that New York Community Bancorp will post $0.79 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its stake in New York Community Bancorp by 6,643.8% in the 1st quarter. BlackRock Inc. now owns 51,206,275 shares of the financial services provider’s stock worth $715,351,000 after purchasing an additional 50,446,961 shares during the period. Vanguard Group Inc. boosted its stake in New York Community Bancorp by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 40,770,549 shares of the financial services provider’s stock worth $535,317,000 after purchasing an additional 910,170 shares during the period. State Street Corp boosted its stake in New York Community Bancorp by 1.8% in the 2nd quarter. State Street Corp now owns 21,898,657 shares of the financial services provider’s stock worth $287,534,000 after purchasing an additional 376,921 shares during the period. Alecta Pensionsforsakring Omsesidigt boosted its stake in New York Community Bancorp by 176.3% in the 2nd quarter. Alecta Pensionsforsakring Omsesidigt now owns 10,500,000 shares of the financial services provider’s stock worth $137,865,000 after purchasing an additional 6,700,000 shares during the period. Finally, Renaissance Technologies LLC boosted its stake in New York Community Bancorp by 6.7% in the 2nd quarter. Renaissance Technologies LLC now owns 10,289,400 shares of the financial services provider’s stock worth $135,100,000 after purchasing an additional 642,723 shares during the period. Institutional investors and hedge funds own 57.49% of the company’s stock.

New York Community Bancorp Company Profile

New York Community Bancorp, Inc is a multi-bank holding company. The Company operates through its subsidiaries, New York Community Bank (the Community Bank) and New York Commercial Bank (the Commercial Bank) (collectively, the Banks). The Company’s operations are divided into two segments: Banking Operations and Residential Mortgage Banking.

Analyst Recommendations for New York Community Bancorp (NYSE:NYCB)

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